Overview

• Specialty apparel retailer's fiscal Q1 net sales rose 6.1% yr/yr

• Net income for fiscal Q1 rose to $46.9 mln, or $0.92 per diluted share

• Q1 results boosted by $19.1 mln litigation settlement reducing selling expenses

Outlook

• Company did not provide specific guidance or outlook for the current or future periods

Result Drivers

• LITIGATION SETTLEMENT - Q1 results benefited from a $19.1 mln litigation settlement recorded as a reduction to selling expenses

• COMPARABLE STORE SALES - Comparable store net sales rose 5.1% yr/yr

• ONLINE SALES - Online sales increased 2.8% yr/yr to $47.7 mln

Company press release: ID:nBw92Z6F8a

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Sales		$288.7 mln	$287.68 mln (2 Analysts)
Q1 EPS		$0.92
Q1 Net Income		$46.88 mln
Q1 Gross Profit		$133.48 mln
Q1 Operating Income		$59.45 mln
Q1 Pretax Profit		$62.1 mln

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the apparel & accessories retailers peer group is "buy."

• Wall Street's median 12-month price target for Buckle Inc is $52.00, about 3% above its May 28 closing price of $50.48

• The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 12 three months ago

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